Re:                                                                                             Granite Master Issuer
Plc
                                                                                                 GBP 10000000
                                                                                                 MATURING: 20-Dec-2054
                                                                                                 ISIN: XS0268038964
                                                                                                                          
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 22-Dec-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 2.565000 PCT
  
 DAY BASIS: ACTUAL/365(PROP)
  
 INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
 GBP 203.6 PER GBP 100000 DENOMINATION
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